Buy IFCI, advises SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "It is very difficult to trade in the expiry week because one does not find much volatility happening. I expect that next three days are likely to remain range bound because of the part of index management. Probably the market is in a mood to see that closing is likely to happen at about 5900. So, it is very difficult to pick and choose but still for the day traders for remaining part of the day what I will advice is that they should look for a small gain may be about 1 percent on the gain side with one percent of stoploss. So, with that background if one really sees the behaviour for the entire day the way it has panned out, the market has been moving just in a plus-minus 75 points on the Sensex and if I take on the Nifty it is about may be 30-35 points on either side."

"With that background I am suggesting that go long on IFCI with the kind of volume which we have seen or may be the interest having risen in the stock in these last two days probably the trend is likely to continue. One can look for a level of about Rs 23.75-24 till the end of the day with stoploss of Rs 23," he said.

"I am giving a buy call on a non F&O stock which is Pidilite Industries. If one sees the run up which we have seen in Asian Paints in the last may be couple of weeks, it has risen from Rs 410 to Rs 505 today. So, the upward movement has been seen in this Pidilite Industries may be from last couple of days. We have seen the informed buying coming in. This is not a F&O stock and one can always look to exit at Rs 325. So, may be go long on the stock with a target of Rs 264 and stoploss of Rs 256."

"I am buying Reliance Infrastructure because we have been seeing the last moment buying coming in this stock for the last three or four days. In fact none of the ADAG group stocks are really doing so well. It has moved from a level of about Rs 410 to Rs 415. So, one can extend these levels to may be about Rs 420 till close of the day with a stoploss of Rs 411."

"One may short Shriram Transport Finance Corporation because the open interest which was yesterday at 7.5 lakh shares, today at 11.4 lakh shares. That means 4 lakh shares have got added into the open interest. When one has such a big quantity, more than 55 percent quantity getting added into the open interest and the stock slides by about 4-4.5 percent it is definitely the shorts which are getting added at the fresh level. The kind of correction whenever we see into the stock swiftly gets corrected to a level of Rs 570-575. So, may be by expiry I am expecting the share to correct to a level of Rs 575-580.”

"One may short Hindalco Industries. It has seen a high of Rs 120. All the metal stocks except for JSW Steel are seeing correction whether one talks of ferrous, or non-ferrous; SAIL, Tata Steel, Jindal Steel & Power, NMDC or Sesa Goa. One can go short, for Hindalco day level can be taken at Rs 111.50 because the stock has been continuously falling. So, Rs 111.50 with a stoploss of Rs 114."